CISCO, Texas--(BUSINESS WIRE)--May 24, 2006-- Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) reports that the operator has announced that the Sellicks-2 well has struck oil in a new oil pool. The DST 1A conducted early this morning over the Poolowanna Formation interval 1984-2007 meters resulted in a flow of oil to surface in 13 minutes. A preliminary rate of 2250-2700 barrels of oil/day was achieved. The Sellicks-2 well adjoins ACOR's PEL 112 to the north. The Sellicks-2 is an appraisal well in Sellicks Oilfield in the Eromanga Basin, South Australia, spudded on May 11. This is a new pool oil discovery within the Sellicks Field, which has, to date, produced oil only from the deeper Patchawarra Formation. Sellicks-2 is the first of two appraisal wells based upon 3-D seismic that was designed to optimize field development. Sellicks-2 will now drill ahead to evaluate the Patchawarra Formation primary target, which is expected to be reached tomorrow. Since its discovery in July 2003 the Sellicks-1 has produced more than 250,000 barrels of oil or $17,500,000, using $70.00 per barrel oil and continues to produce strongly. However, new 3-D seismic mapping suggests that the discovery well may not be optimally located on the field, and the two appraisal wells are designed to test the potential for undrained oil updip and offset from Sellicks-1. Both wells will be deviated from a single well site located adjacent to the established field facility. The bottom-hole target for Sellicks-2 is located approximately 120 meters to the south of Sellicks-1. It has a planned total depth of 2,147 meters. All the wells mentioned in this press release adjoin ACOR's 41.5% working interest PEL 112 to the north and to the east.
Silver Sands-1 well came in with an initial potential of 1062 BOPD
Christies-1 well came in with an initial potential of 500 BOPD
Christies-2 well came in with an initial potential of 1960 BOPD
Christies-3 well came in with an initial potential of 2400 BOPD
Christies-4 well came in with an initial potential of 653 BOPD
Christies-5 well came in with an initial potential of 403 BOPD
Sellicks-1 well came in with an initial potential of 1780 BOPD
Worrior-1 well came in with an initial potential of 2800 BOPD
Worrior-2 well came in with an initial potential of 2000 BOPD
Worrior-3 well came in with an initial potential of 276 BOPD
Worrior-4 well came in with an initial potential of 1660 BOPD
The current production on the adjoining area to the north of ACOR's PEL 112 is averaging a reported $33,000,000 a year. The current production on the adjoining area to the east of ACOR's PEL 112 is averaging a reported $75,000,000 a year.
Why are we talking about the Wells that adjoin ACOR's PEL 112?
Take the smallest of the recent discoveries (276 BOPD) and multiply (x) it by $70.00 per barrel, current market price of crude oil times (x) 30 days, times (x) 12 months and apply it to times (x) ACOR's PEL 112 41.5% Working Interest and see the results for yourself. Now do the same with the largest discovery that adjoins ACOR's PEL 112.
Smallest Discovery so far, Worrior-3 IP 276 BOPD
Largest Discovery so far, Warrior-1 IP 2,800 BOPD
Now you can see why ACOR management is so excited about all the drilling activity that is going on adjoining ACOR's PEL 112 to the north and east. In our opinion, any one of the recent discoveries from the smallest to the largest could be a possible "Company-Maker" discovery for our company, if discovered on PEL 112. This is some of the most profitable production in onshore Australia, and ACOR is in the middle of it.
About PEL 112
ACOR has invested approximately five years of time and several million dollars on PEL's 112, 108, & 109. PEL 112 covers 818,904 acres and has never been drilled on (no dry holes) and is located in the Cooper/Eromanga Basin of South Australia. ACOR has just completed a new seismic survey on PEL 112 at a cost of approximately $1,100,000. The new seismic survey has discovered two large seismograph highs as well as 28 smaller ones. The two large seismograph highs are called C-23 & C-26, which cover a combined area of approx. 5,534 acres with excellent closure. ACOR is currently getting drilling bids for the two best drilling locations identified by seismic. The drilling locations for C-23 & C-26 have now been staked and the photos of the locations are available on our website.
ACOR owns 41.5% WI under PEL's 108, 109, & 112.
ACOR Management Visit to Australia
ACOR management is back from Australia, after attending the 2006 APPEA Convention May 7-10. ACOR management met with several investors who requested that we travel to see them. ACOR has received farmout requests for a portion of ACOR's 41.5% working interest under PEL 108, 109, & 112 and a portion of ACOR's 100% working interest under ATP-582, covering approximately 8,414,348 gross acres. Both areas are located in the Cooper/Eromanga Basin in South Australia and Queensland. ACOR management is seriously reviewing the farmout requests. Results of the meetings will be shared with you in forthcoming press releases.
About Australian-Canadian Oil Royalties Ltd.
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait. ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interest and overriding royalty interest are located offshore & onshore in the best producing basins.
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
KEYWORD: NORTH AMERICA AUSTRALIA/OCEANIA TEXAS AUSTRALIA UNITED STATES INDUSTRY KEYWORD: ENERGY OIL/GAS NATURAL RESOURCES MINING/MINERALS PRODUCT/SERVICE SOURCE: Australian-Canadian Oil Royalties Ltd.
CONTACT INFORMATION: Australian-Canadian Oil Royalties Ltd. Roger Autrey, 512-784-7828 RLA*austin.rr.com
[ May 26, 2006, 14:20: Message edited by: glassman ]
Posted by madOIL on :
Business Editors / Energy Editors
CISCO, Texas--(BUSINESS WIRE)--May 26, 2006-- Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) reports that the JV partner of ATP-299 has announced the successful completion of Mulberry-12 as a Birkhead oil producer. Mulberry 12 was drilled at the Mulberry Field on ACOR's ORRI about 950 meters northwest of Mulberry 2. It encountered good oil shows with approximately 3-4 meters of net oil pay in the mid Birkhead reservoir unit and has been cased as a future oil production well. Rig PDI-735 was then released to the Huckleberry 1 near field exploration (NFE) well location. Huckleberry 1 is located approximately 2 kilometers west of Mulberry 2, and spudded on May 21st. The total depth of the Huckleberry-1 is 1,365 meters. The second drilling rig, PDI-724 continued drilling operations at the Endeavour field. Endeavour 11 spudded on May 19th. As of May 22nd, the surface casing had been set. Planned forward operations are to drill out the casing shoe conduct BOP tests and drill in 7 7/8" hole ahead to TD.
About The Mulberry Oil Field:
Mulberry-1 was drilled in 2004 and is producing oil at a rate of approximately 600 barrels of oil per day. The 51 wells are designed to achieve additional oil production and to test the extent of the oil pool in the Birkhead 11-77 sand discovered in the Mulberry-1 well. The Mulberry-Gimboola-Endeavour /Tintaburra Oil Field contain significant proved undeveloped oil reserves and exploration up side. The Mulberry-Gimboola-Endeavour Field is part of the Tintaburra Oil Field on ACOR's ORRI under ATP-299. The Mulberry/Tintaburra Oil Field is estimated to contain around 84 million barrels of proved plus probable oil in place or approximately $5,036,640,000, at current market prices. ACOR owns .0575 of 1% ORRI under ATP-299.
ACOR Onshore Australia Working Interest Update:
ACOR has received farmout requests for a portion of ACOR's 41.5% working interest under PEL 108, 109, & 112 and a portion of ACOR's 100% working interest under ATP-582, covering approximately 8,414,348 gross acres. Both areas are located in the Cooper/Eromanga Basin in South Australia and Queensland. ACOR management is seriously reviewing the farmout requests. Results of the meetings will be shared with you in forthcoming press releases.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait. ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interest and overriding royalty interest are located offshore & onshore in the best producing basins. Visit our website at www.aussieoil.com. Posted by matto on :
HUGE NEWS WEEEEEEEE!!!!!!! i am in and the chart is sweet
Posted by BuyTex on :
grabbed some...
Posted by vg on :
Huge trying to get filled right now
Posted by vg on :
This chart and only 4.7 million in float WOW !!!
Posted by BuyTex on :
veeg, 1.10 X 1.15, they nudged it down a little...
Posted by Dustoff101 on :
I just bought 550 at 1.05
Posted by vg on :
just got filled
Posted by vg on :
Awesome Tex I dont think many people have got the news yet. This could fly especially with the news and low volume, but its Friday too so we might have to wait a bit.
Posted by BuyTex on :
lol, saw that go thru, Dust...
veeg, you're right, pretty strong news...
Posted by BuyTex on :
2500...that's decent
Posted by Dustoff101 on :
Glad I saw the BB behind the OTC...LOL
Damn I moved FAST! About 30 seconds from seeing the post, to puting in my order..LOL
O well cost is $577.50 I ain't complaining..
Posted by Dustoff101 on :
Can't get ahold of peaser, heck of a time for a smoke!
Posted by vg on :
LOL, its speedy dustoff now
Posted by vg on :
THIS THREAD IS SUPPOSED TO BE AUCAF NOT ACUAF
Posted by matto on :
Remember acor is involved also and they are up! ask now at $3.99 With this float i am happy with my buy's
Posted by Dustoff101 on :
Bob should be advised about the mis-symbol..
Posted by hawkdriver on :
nobody wants to bite on my .96 offer.
Posted by Dustoff101 on :
Hawk, no no no you don't understand!!!! Buy mine at 2.25 while ya can!!!! Hurry!
Posted by madOIL on :
i dont think symbol ACOR (Acorda therapeutics) is involved lol
just an acronymn the PR used to: Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF)
Posted by hawkdriver on :
think i'm gonna pull the .96 since nobody want to outbid me.
Posted by BuyTex on :
quote:Originally posted by madOIL: i dont think symbol ACOR (Acorda therapeutics) is involved lol
just an acronymn the PR used to: Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF)
that sounds right
Posted by hawkdriver on :
sorry Dust, I can't believe I past on your 2.25 offer. That was pretty dumb of me. LOL
Posted by matto on :
ROFLMAO sorry!
Posted by Dustoff101 on :
Ah, just get in there on the ASK it's just money! LOL
Warrants are rich with all that flight pay!
Posted by BuyTex on :
spank dat ask!
Posted by hawkdriver on :
I had my bid 3000 at .96 so you can't say I didn't try to walk the bid up. Problem was nobody else would out bid me, the momentum looks like stagnant water when nobody is competing on the bid. I think we might be able to solve this problem if we start a new thread with the right name, and MOST importantly, we have to use one of those little smiley faces instead of the same old boring paper.
Posted by BuyTex on :
Ticker correct, now--yes?
I reported it...
it's getting stroked a bit...
Hawk, what if we all put smilies in our posts?
Posted by Dustoff101 on :
O Ha--awk, better look now..
Posted by hawkdriver on :
I walk away for a minute, the price goes up but the bid is the same. I think someone is trying to trick me. Posted by Dustoff101 on :
Wheels is fer Areoplanes not Whirlybirds..
Posted by hawkdriver on :
I fly them both.
Posted by BuyTex on :
quote:Originally posted by hawkdriver: I walk away for a minute, the price goes up but the bid is the same. I think someone is trying to trick me.
ARCA jumped in front of ETRD...lol, ETRD will buy at .95, but wants to sell at 1.25.... Posted by Dustoff101 on :
Looking very interesting... Bid 1.05 Ask 1.20
Posted by BuyTex on :
After ETRD, I'm showing ABLE at 1.69... Posted by hawkdriver on :
OK the bid is in. and this ain't no Posted by Dustoff101 on :
ASK
NITE 1.20 UBSS 1.24 ETRD 1.25 PERT 1.50 ABLE 1.69
Posted by hawkdriver on :
How bout NITE are those basserds in yet? Posted by hawkdriver on :
Thanks
Posted by Dustoff101 on :
I hope ya don't try and put cheap fuel in that thar Areoplane....
Posted by Danny12345 on :
wow a lot of hype in this stock on a friday huh?
Posted by hawkdriver on :
The areoplane belongs to me, she only gets the best, but I don't what the army in putting in them huliocopters
Posted by hawkdriver on :
there I changed the bid again. lets see if we get some takers
Posted by Dustoff101 on :
Geez, can't a Warrant with two tickets afford to buy on the ASK! Try that 1.25! LOL
Posted by hawkdriver on :
Someone just up'd my bid, You quit complaining, I just might make you some money.
Posted by Dustoff101 on :
Graphics shaping up..
Posted by BuyTex on :
switch that piggy!
Posted by Dustoff101 on :
Hey fellers, we got some liquidity showing up!
Posted by hawkdriver on :
Look at that Dusty, you play with the bid a little, and the gap gets shorter. got love it.
Posted by BuyTex on :
oh, yeah, bring it together
Posted by matto on :
oh yes here she goes!!!!!
Posted by Dustoff101 on :
I ain't no chicken holding this Baby over the week-end and Tex knows for me thats saying sumpin. LOL
Posted by Sean on :
In at 1.07
Posted by Dustoff101 on :
Graphics showing a pull up the hill, but they can change very fast.
Posted by hawkdriver on :
1.05 here
Posted by matto on :
i need more free cash!!!!!!!!!!
Posted by Dustoff101 on :
Saw it at 3400 shrs...
Posted by hawkdriver on :
i am going to try to close the gap again and see if we can spark a little volume
Posted by Dustoff101 on :
Ya know, I finaly did a little more charting, I think we stold it at anything around a buck...
Is I a pumper now?
Posted by Sean on :
Not at all dust. This baby has huge potential.
Posted by hawkdriver on :
my bid ain't showing. No you ain't no pumper. I am the one playing the numbers
Posted by matto on :
Funny, my bid is higher than the bid posted, but it just won't show up.
Posted by Dustoff101 on :
I've seen um flip it over to the ask, when they are being cantankerous. LOL
Posted by renrob05 on :
liking this in at 1.05
Posted by hawkdriver on :
They wanted me to beat the price and the amount of shares before they posted it. slicky boys.
Posted by Dustoff101 on :
Yep, regular dickering kinda deal sometimes..
Posted by renrob05 on :
ask uptick....1.10
Posted by madOIL on :
good volume today 112,903 the most in like, well EVER! check the charts this is ready to explode IMO next week should be a good one!
Posted by hawkdriver on :
I finally got around to doing a little DD on this one. This is going to be real big. Either the company or one of their JV partners are striking more oil about every other day. So far they are 100% on oil strikes, plans call for 12 holes, looks like four are done. There could be another 8 oil strike PR's coming out.
I starting to get a tickley feeling on this one.
Posted by ArmySGT on :
Dear Shareholder: Australian-Canadian Oil Royalties Ltd. (ACOR) is pleased to include this updated report to all ACOR shareholders. Because of several exciting events such as:
the giant oil discoveries adjoining PEL 112 to the East with no dry holes in between averaging $US25,000,000 per well per year
the price of crude oil above $US60.00 per barrel
the 52% "Wildcat" drilling exploration success rate by new junior oil companies in the Cooper/Eromanga Basin
the 4.97 miles long x 1.24 miles structure with 1,100' of closure on Offshore VIC/P60
Australian-Canadian Oil Royalties Ltd. is wisely being transformed into an oil exploration company. ACOR holds approximately 7,424,143 net working interests acres in the most prolific basins in Australia, located onshore in the Cooper/Eromanga Basin and offshore in the Gippsland Basin.
VIC/P60
ACOR and Associates have invested over a million dollars in two seismic programs this year. ACOR management had an opportunity to spend several days with Holloman Corp.'s Chief Geophysicist, Roy Whiting. ACOR is very fortunate to have such a top-notch geophysicist working full time on VIC/P60 and we appreciate all his efforts.
Roy has identified six (6) structures on VIC/P60. One of the six (6) structures, the A-1 Prospect lies in 100-200 meters of shallow water. Roy has estimated that the A-1 Prospect could possibly contain approximately $500,000,000 in reserves, if filled with hydrocarbons. ACOR feels that this estimate for the A-1 prospect could be conservative.
The A-1 prospect is approximately 4.97 miles long and 1.24 miles wide with a seismic bright spot anomalie rated good to excellent. The seismic bright spot is 108' thick and 820' horizontal by 20,500' perpendicular wide behind a fault on the flank of the anticline. He has traced the beds to the nearest oil and gas fields after processing 5,000 +/- seismic lines.
The Bass Strait part of the Gippsland Basin has near surface channels filled with limestone with a different velocity from the surrounding beds. Professors Malcolm Wallace and Gary Holdgate have released a report that not only described the velocity problem within the Seaspray Group but also gave a formula that when applied fixes the issues with false leads and the uplifting of structures.
Whiting, using the Kingdom Seismic Software, developed a seismic program which corrects velocities to get rid of this problem. Roy tried it out successfully on the nearest producing fields and seismic over production and applied it to the 2-D seismic on Permit 60.
The big structure did not have any bright spots over the crest, but on the flank behind a fault trap discovered a spectacular bright and large anomalie. He also discovered that the beds are thickening to the SE and repeating the section found in the Giant Oil Fields to the NW.
We think that this seismic bright spot anomalie may produce like the Fortescue Field or the Cobia Field on the south flank and west flanks of the Halibut anticline.
For instance, the Halibut Oil Field has the highest per well accumulative production of any oil field we know of in the world.
60,000,000 bbls of oil per well or $US5,140,000,000 worth of crude oil per well at today's prices!
VIC/P60 is located in the prolific Gippsland Basin, in excess of 4 billion barrels of oil/condensate and 12 TCF gas reserves have been produced in the Gippsland Basin. Current production of the basin is around 140,000 barrels per day of crude and 570 million cubic feet per day of gas. At peak rates, the Gippsland Basin can deliver more than 1,000 million cubic feet a day. VIC/P60 is adjacent to giant producing fields and proximal to existing infrastructure and an expanding gas market.
VIC/P60 is located in a world-class petroleum province and despite its long history of extensive exploration, many parts of the basin, especially the eastern region, are still poorly understood. New players have entered the exploration scene and the amount of seismic data, particularly 3D, is increasing. For such a prolific basin, the Gippsland Basin is relatively unexplored and ACOR believes there is still considerable potential for significant discoveries.
ACOR owns a 25% working interest in VIC/P60.
PEL 112 & 108
ACOR’s President, instructed management to hire the very best Seismic & Geophysical team available in the Cooper/Eromanga Basin in order to begin a detailed exploration program on PEL 112 & 108.
ACOR hired Andy McGee, a highly respected Geophysicist and Steven Tobin of Terrex Seismic. A crew of approximately 50 personnel will be working this spring and summer to perform the shooting & interpreting of the 190 kilometers of seismic on PEL 112 & 108.
During April, May, and June, ACOR engaged Andrew McGee as seismologist and Terrex Seismic as seismic contractor for Areas (Petroleum Exploration License) PEL 112 and PEL 108. Andrew McGee reinterpreted the seismic on PEL 112 and PEL 108, created the seismic program and engaged surveyors to lay out the new seismic lines.
He engaged the Aboriginal Native Lawyers to come out with the Aboriginals to see if there are any native graveyards or things the seismic crew could damage cost was $US 10,000 a day for 10 days. The lines were cleared. Actual seismic work started in June 2005 at a cost of over $US 100,000 a week. ACOR paid for its 41.5% of the seismic survey by selling an 8.5% Working Interest from its original 50%.
Important new oil discoveries have come in over the past two years on the adjoining Petroleum Exploration License on the East of PEL 112 and on the North.
On the East side and adjoining PEL 112, the Worrior Wells make pipeline runs of $US 25,000,000 a year per well. The wells are 6,000 feet deep, multiple pay and cost between $US 900,000 and $US 1,500,000 to drill and complete, depending on the number of drill stem tests and producing zones.
ACOR is very excited about the current prospects mapped on PEL 112 and Mr. McGee & Mr. Tobin had some valuable suggestions to help ACOR get the best prospects shot on PEL 112 & 108. Our company and ACOR’s President is spending approximately $AU940,000 on the seismic program and we look forward to receive the Seicmic interpetation from Andy McGee in October.
ACOR owns a 41.5% working interest under PEL 112, 108, & 109
About Australian-Canadian Oil Royalties Ltd:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT.
ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait. ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin BoardExchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and positioned for possible “Company-Maker” discoveries. ACOR's working interest and overriding royalty interest are located offshore & onshore in the best producing basins!
Robert Kamon
Secretary
Shares Outstanding: Approx. 12,609,721
Public Float: Approx. 4,054,129
NASDAQ: OTC/BB: AUCAF
Posted by ArmySGT on :
Dustoff and Hawk, you guys both in wonderful Iraq right now?
Posted by BuyTex on :
Sarge, won't speak for either, but my understanding is they're Nam-era vets...
btw, when you post a PR or something similar, best to provide the link...
Posted by booya on :
yes looks like it's ready to goooo!!!!!
Posted by booya on :
this is going to explode!!! madmoney2006 30 May 2006 7:53 AM EDT
Army SGT I did the war then spent 13 months there, came home for 10 and then my unit went to Afghanistan for another year. I just got home in March. I think Dustoff in Nam
Posted by booya on :
*********.com: ********* Alerts for Tuesday, May 30, 2006 Dalrada Financial Reports Results of Stockholders' Meeting While ARXG Gains Over 20% via COMTEX
May 30, 2006
Dallas, Texas, May 30, 2006 (M2 PRESSWIRE via COMTEX News Network) --
********* Pre-Market Updates for Tuesday include Dalrada Financial Corporation (OTCBB: DRDF) , Xenomics, Inc. (OTCBB: XNOM), Aurora Gold Corporation (OTCBB: ARXG), Australian Canadian Oil Royalties Ltd (OTCBB: AUCAF), VirTra Systems Inc (OTCBB: VTSI) and Cintel Corporation (OTCBB: CNCN) .********* Price Alerts feature companies with significant moves in either volume or price in the past two trading sessions. In our update we analyze recent news about the companies featured and detail the movement in the stock. If you would like to feature your publicly traded company in our alerts or on *********.com, email feature**********.com or call (469)252-3031
Australian Canadian Oil Royalties Ltd (OTCBB: AUCAF) - Shares closed up 10.53%. with total trading volume of 112,903 shares on Friday. The final price was $1.05 per share. On Friday, it was reported that the JV partner of ATP-299 announced the successful completion of Mulberry-12 as a Birkhead oil producer. Mulberry 12 was drilled at the Mulberry Field on ACOR's ORRI about 950 meters northwest of Mulberry 2. It encountered good oil shows with approximately 3-4 meters of net oil pay in the mid Birkhead reservoir unit and has been cased as a future oil production well. Rig PDI-735 was then released to the Huckleberry 1 near field exploration (NFE) well location. Huckleberry 1 is located approximately 2 kilometers west of Mulberry 2, and spudded on May 21st. The total depth of the Huckleberry-1 is 1,365 meters. The second drilling rig, PDI-724 continued drilling operations at the Endeavour field. Endeavour 11 spudded on May 19th. As of May 22nd, the surface casing had been set. Planned forward operations are to drill out the casing shoe conduct BOP tests and drill in 7 7/8" hole ahead to TD.
Posted by ArmySGT on :
quote:Originally posted by hawkdriver: Army SGT I did the war then spent 13 months there, came home for 10 and then my unit went to Afghanistan for another year. I just got home in March. I think Dustoff in Nam
Nice, im here with American Dustoff, not a pilot but work with em, have a pilot in my unit that flew in Nam, great guy.
Posted by ArmySGT on :
oh and the info came straight from their website.
aussieoil.com
Posted by matto on :
$50 Million Dollar- 51 Well Drilling Program on ACOR's ORRI under ATP-299 - Endeavour-11 & Huckleberry-1 Strike Oil on the $5 Billion Dollar Potential Oil Field- Mimosa-1 Spuds
CISCO, Texas, May 31, 2006 (BUSINESS WIRE) -- Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) reports that the JV partner of ATP-299 is pleased to announce that Endeavour 11 has been cased and suspended as a new oil production well. Endeavour 11 was drilled at the Endeavour Field on ACOR's ORRI approximately 300 meters southeast of Endeavour 1 encountered good oil shows with approximately 5 meters of net oil pay in the Birkhead reservoir unit and has been cased as a future oil production well. The drilling rig PDI -724 was then released to the Mimosa 1 near field exploration (NFE) well location. Mimosa 1 is located approximately 2 kilometers southwest of Endeavour 11 and 850 meters southwest of Endeavour 3.
The drilling rig PDI-735 drilled and is testing Huckleberry 1, a near field exploration well located approximately 2 kilometers west of Mulberry 2. Huckleberry 1 encountered good oil shows during drilling and the potential reservoir formations are being tested.
About The Mulberry Oil Field:
Mulberry-1 was drilled in 2004 and is producing oil at a rate of approximately 600 barrels of oil per day. The 51 wells are designed to achieve additional oil production and to test the extent of the oil pool in the Birkhead 11-77 sand discovered in the Mulberry-1 well. The Mulberry-Gimboola-Endeavour /Tintaburra Oil Field contain significant proved undeveloped oil reserves and exploration up side.
The Mulberry-Gimboola-Endeavour Field is part of the Tintaburra Oil Field on ACOR's ORRI under ATP-299 and is estimated to contain around 84 million barrels of proved plus probable oil in place or approximately $5,036,640,000, at current market prices.
ACOR owns .0575 of 1% ORRI under ATP-299.
12 Wells to Be Drilled - All Adjoin ACOR's 41.5% WI PEL 112 - Sellicks-2 IP 2685 BOPD-To be completed as a Multiple-Zone Oil Producer & a new oil pool discovery
Since the May 24th ACOR press release, Sellicks-2 has drilled ahead 140 meters in a deviated hole to reach a total depth of 2147 meters. DST- 1A (1984 - 2007 meters), which was reported last week, flowed oil to surface at a final rate of 2685 barrels oil per day and is a new-pool oil discovery in the Poolowanna Formation.
Since then, the well's primary target, the Patchawarra Formation, was intersected 5 meters updip of Sellicks-1 and wireline logs were acquired after reaching TD. This data shows that the reservoir interval is similar to Sellicks-1 and preliminary log interpretation indicates approximately 7 meters of oil pay in the Patchawarra and 3 to 6 meters in the Poolowanna.
In addition, two further sands within the Patchawarra are possibly oil-bearing, but could not be tested due to the hole limitations. It is planned to address this potential (up to 6m of oil pay) once production has been established from the Poolowanna and Lower Patchawarra intervals.
Casing was being run prior to completing the Sellicks-2 well as a multiple-zone oil producer. The Sellicks-2 adjoins ACOR's PEL 112 to the north.
Sellicks-3 Spuds Next
The rig will then be skidded about 5 meters to spud Sellicks-3, the 6th well of 12 wells to be drilled - all adjoining ACOR's PEL 112.
Since its discovery in July 2003 the Sellicks-1 has produced more than 250,000 barrels of oil or $17,500,000, using $70.00 per barrel oil and continue to produce strongly. However, new 3-D seismic mapping suggests that the discovery well may not be optimally located on the field, and the two appraisal wells are designed to test the potential for undrained oil updip and offset from Sellicks-1. Both wells will be deviated from a single well site located adjacent to the established field facility
Posted by Danny12345 on :
nice
Posted by Sean on :
Anyone still holdin on to this one?
Posted by Danny12345 on :
$50 Million Dollar-51 Well Drilling Program - 14 out of 16 Wells Strike Oil - Avg. 94% Drilling Success on ACOR's ORRI under ATP-299 on the $5 Billion Dollar Potential Oil Field - Could ACOR's PEL 112 Have the Potential to Be Another ATP-299?
CISCO, Texas, Jun 19, 2006 (BUSINESS WIRE) -- Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) reports that the JV partner of ATP-299 is pleased to announce that they have achieved a phenomenal 94% success rate on ACOR's ORRI, with 14 of the 16 wells that encountered oil in the Birkhead reservoirs at the Mulberry, Endeavour and Gimboola Oil Fields having been completed as future oil producers. The Tintaburra wells are progressively being tied in to the production system with 6 wells now producing oil and the program is on track to add significant oil production volumes for ACOR's ORRI this year.
The Tintaburra program on ACOR's ORRI is the largest continuous oil development and exploration drilling program ever undertaken in SW Queensland with 3 modern rigs drilling and casing wells at around 7 days per well. The Tintaburra program will continue at least into October 2006 with the balance of 34 wells to be drilled. In addition, planning is currently underway to drill an additional 9 development/delineation wells at the Mulberry field.
About The Mulberry Oil Field:
Mulberry-1 was drilled in 2004 and is producing oil at a rate of approximately 600 barrels of oil per day. The 51 wells are designed to achieve additional oil production and to test the extent of the oil pool in the Birkhead 11-77 sand discovered in the Mulberry-1 well.
The Mulberry-Gimboola-Endeavour Field is part of the Tintaburra Oil Field on ACOR's ORRI under ATP-299 and is estimated to contain around 84 million barrels of proved plus probable oil in place or approximately $5,036,640,000, at current market prices.
ACOR owns .0575 of 1% ORRI under ATP-299.
ACOR Management Helped Discover Oil on ATP-299 Approximately 30 Years Ago
Robert Kamon is a director of ACOR and one of the largest shareholders in the company. In the late 1970s, Robert noticed the East-West oil migration path in the Cooper/Eromanga Basin and stepped out approximately 92 miles East from the nearest oil & gas producing field (the Jackson Field) and leased what would be considered at the time a rank wildcat area, called ATP-299.
The 1st well drilled on ATP-299 was called the Tintaburra #1 and it came in with an initial potential of approximately 1835 barrels of oil per day from two zones. Successful well after well was drilled and completed on ATP-299 and a large oil company bought ATP-299 for several hundred million dollars.
Could PEL 112 Have the Potential to Be Another ATP-299?
PEL 112 has not been explored for almost 40 years!
The model for oil entrapment along the Cooper Basin flanks in southwest Queensland is by now well understood. It is probable because of the oil pools discovered in fields such as the Tintaburra Oil Field, located on ACOR's ORRI under ATP-299.
In the South Australian part of the Cooper/Eromanga Basin, the flanks have been almost untouched by modern exploration for almost 40 years. They remain virgin acreage, yet tantalizingly close to a proven source of oil generation.
ACOR management's goal is to follow up the successful Christies, Sellicks, & Worrior oil discoveries to the east and north of ACOR's PEL 112 and to continue to probe in the southern flank in the Southern Australian part of the Cooper/Eromanga Basin to unlock the many riddles that persist in this area.
ACOR management would like to prove to our shareholders that PEL 112 could possibly yield giant oil discoveries like those that have been discovered on ATP-299. ACOR has invested approximately five (5) years of time and several million dollars on PEL's 112, 108, & 109.
PEL 112 covers 818,904 acres and has never been drilled on (no dry holes) and is located in the Cooper/Eromanga Basin of South Australia. ACOR has just completed a new seismic survey on PEL 112 at a cost of approximately $1,100,000. The new seismic survey has discovered two large seismograph highs as well as 24 smaller ones. The two large seismograph highs are called C-23 & C-26, which cover a combined area of approx. 5,534 acres with excellent closure.
Profitable Production Almost Surrounds ACOR's PEL 112
As stated in previous ACOR press releases, twelve (12) new wells adjoining PEL 112 to the North, East & West have been announced for drilling in 2006. Five (5) wells out of six (6) of these 12 wells announced have struck oil. This is, by industry standards, an exceptional 83% success ratio. The latest successful well to be drilled that adjoins ACOR's PEL 112 was the Sellicks-2, with an initial potential of approximately 2700 barrels of oil per day ("BOPD"), a new oil pool discovery and is to be completed as a multiple zone oil producer.
All the wells mentioned below adjoin ACOR's PEL 112 to the north and to the east.
Silver Sands-1 well came in with an initial potential of 1062 BOPD Christies-1 well came in with an initial potential of 500 BOPD Christies-2 well came in with an initial potential of 1960 BOPD Christies-3 well came in with an initial potential of 2400 BOPD Christies-4 well came in with an initial potential of 653 BOPD Christies-5 well came in with an initial potential of 403 BOPD Sellicks-1 well came in with an initial potential of 1780 BOPD Worrior-1 well came in with an initial potential of 2800 BOPD Worrior-2 well came in with an initial potential of 2000 BOPD Worrior-3 well came in with an initial potential of 276 BOPD Worrior-4 well came in with an initial potential of 1660 BOPD
The current production on the adjoining area to the north of ACOR's PEL 112 is averaging a reported $33,000,000 a year.
The current production on the adjoining area to the east of ACOR's PEL 112 is averaging a reported $75,000,000 a year.
Why is ACOR Management talking about the Wells that adjoin ACOR's PEL 112?
Take the smallest of the recent discoveries (276 BOPD) and multiply (x) it by $70.00 per barrel, current market price of crude oil times (x) 30 days, times (x) 12 months and apply the result times (x) ACOR's PEL 112 Working Interest and see the potential gross revenues for yourself. Now do the same calculations using the largest discovery that adjoins ACOR's PEL 112.
Smallest Discovery so far, Worrior-3 IP276 BOPD
Largest Discovery so far, Worrior-1 IP2,800 BOPD Now you can see why ACOR management is so excited about all the drilling activity that is going on adjoining ACOR's PEL 112 to the north and east. In our opinion, any one of the recent discoveries from the smallest to the largest could be a possible "Company-Maker" discovery for our company, if discovered on PEL 112.
This is some of the most profitable production in onshore Australia, and ACOR is in the middle of it.
ACOR owns 41.5% WI under PEL's 108, 109, & 112.
ACOR Onshore Australia Update:
ACOR has received farmout requests for a portion of ACOR's 41.5% working interest under PEL 108, 109, & 112 and a portion of ACOR's 100% working interest under ATP-582, covering approximately 8,414,348 gross acres. Both areas are located in the Cooper/Eromanga Basin in South Australia and Queensland. ACOR management is seriously reviewing the farmout requests.
Results of the meetings will be shared with you in the Wednesday, June 21st press release.
About Australian-Canadian Oil Royalties Ltd.:
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.
ACOR is a publicly traded oil company trading on the NASDAQ OTC Bulletin Board Exchange under the trading symbol "AUCAF."
Summary:
Australia is a "hot spot" for oil & gas exploration and ACOR is positioned for possible "Company-Maker" discoveries. ACOR's working interest and overriding royalty interest are located offshore & onshore in the best producing basins.
Except for historical information contained herein, the statements released are forward-looking statements that are made pursuant to the provision of the Private Securities Litigation Reform Act of 1955. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
SOURCE: Australian-Canadian Oil Royalties Ltd.
CONTACT: Australian-Canadian Oil Royalties Ltd. Roger Autrey, 512-784-7828 RLA*austin.rr.com
Copyright Business Wire 2006
-0-
KEYWORD: Australia United States North America Australia/Oceania Texas INDUSTRY KEYWORD: Energy Oil/Gas Other Energy Natural Resources Mining/Minerals Other Natural Resources Professional Services Banking Finance Other Professional Services
Posted by madOIL on :
wow i am surprised no more interest in this company with the great PRs in the last couple of months of striking oil, and finding new oil pools
the L2s are super thin ask 1 - 1.01 1 - 1.02 1 - 1.15
bid 1 - 0.94 1 - 0.93 1 - 0.095
and thats it 3 mms on ask and 3 mms on bid with volume this will move like GHLT has in the past weeks!!! just needs volume and buying pressure
Posted by madOIL on :
ACOR management draws no cash salary. ACOR has NO LONG-TERM DEBT. ACOR's principal assets consist of 15,440,116 gross surface acres of overriding royalty interest and 8,561,007 gross acres of working interests, located Onshore Australia in the Cooper-Eromanga Basin and Offshore Australia in the Gippsland Basin in the Bass Strait.
![[Smile]](smile.gif)
![[Roll Eyes]](rolleyes.gif)